Archive pour juillet 2009

The more the merrier? Number of bidders, information dispersion, renegotiation and winner’s curse in toll road concessions

Numéro: 2009-7 The more the merrier? Number of bidders, information dispersion, renegotiation and winner’s curse in toll road concessions Laure Athias (IDHEAP/SPAN, Université de Lausanne) & Antonio Nunez (Laboratoire d’Economie des transports) Abstract: In this paper, we empirically assess the effects of the winner’s curse in auctions for toll road concession contracts. Such auctions are common-value auctions…

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